Introduction

The North Bea Licence is located in Grand Cape Mount County of Western Liberia, 150km from the Capital Monrovia. The licence is situated in low relief forest with isolated hills. Access to the prospect is by a combination of tarmac and laterite roads. The licence contains two known hard rock gold showings, 4km apart, at Fula Camp and Soso Camp.

A GIS database was compiled comprising a digital elevation model and Landsat data before commencing field work to identify target areas for first pass investigation. Regional and prospect scale geochemical soil surveys initiated in early 2005 discovered two targets coincident with hard rock artisanal gold workings 4km apart in the centre of the North Bea Licence at Fula Camp and Soso Camp. The mineralised zone strikes parallel to the regional NE/SW structural trend. Trenching undertaken by African Aura at Fula Camp guided an initial two phase diamond drilling programme, completed in December 2006 and May 2007. The drilling has defined three northeast striking lenses of shear zone hosted gold mineralisation along 700m of strike including the following selected intersections:

- 5.37 g/t Au over 9.85m
- 2.41 g/t Au over 21.35m
- 4.27 g/t Au over 6.30m
- 3.14 g/t Au over 12.45m

Geological setting

The geology within the North Bea licence is of Archaean age and forms part of the Man Craton proto-continent that accreted to Africa 2.1 billion years ago. The rocks within the property are highly-deformed and largely comprised of granite-gneiss, mafic metavolcanics, mafic to ultramafic meta-intrusives and a minor amount of metasediments. The granite/granodiorite-gneiss basement encloses linear volcano-sedimentary belts that fill major structural breaks. These are interpreted as highly metamorphosed greenstone belts which contain quartzite, amphibolite, ultramafics and banded iron formation components. One of these northeast trending volcano-sedimentary belts crosses the southern half of the North Bea licence bounded by quartz-diorite gneiss and granite--gneiss. Granodiorite gneiss covers the northern half of the Licence with a granitic intrusion on the northern edge of the licence. These lithologies represent the granitoid basement and greenstone belts typical of Archaean greenstone terrains such as those described in Australia, Canada and Zimbabwe. In addition, there are some showings of itabarite, a layered coarse grained chert and haematite formation.

• 'Fula Pit' historically supporting 150 miners
• Drilling cuts 5.37 g/t Au over 9.85m and 2.41 g/t Au over 21.35m
• Two zones within 350m section, remaining open along strike
• Soil survey indicates 1.4km zone of interest
• Follow up drilling programme and geophysics underway

The Fula Camp project is a lode gold deposit which reportedly supported around 150 artisanal miners. Disseminated and stockwork gold mineralisation has been exposed within an 80m long artisanal pit along a structurally complex, 16m wide northeast striking zone. The gold mineralisation is concentrated at the contact between a mafic, possibly volcanic unit, and Archaean granite-gneiss basement. Grab samples taken by the Company from the artisanal workings include 76 g/t, 68 g/t & 13 g/t Au, and a programme of trench sampling returned a previously reported best channel intersect of 2.1 g/t over 22m.

Phase-1 Drilling Programme Q1 2007

An initial 8 hole, diamond core drilling programme has been completed. The programme used a Hydracore-28 diamond rig which drilled BTW size (42 mm diameter) holes to depths of between 50 and 100 metres, angled at -50 degrees on a 350m section of strike length. The drilling results confirm that gold mineralisation occurs within a northeast striking shear zone hosted within tuffaceous meta-volcanics. The gold mineralisation is associated mainly with disseminated sulphides but also occurs with quartz stringers and veins. Two zones have been identified to date, each approximately 200m long, separated along strike by approximately 150m. Selected drill intersections are presented in Table 1 below.

Table 1. Selected drill intersections from Fula Camp project

Hole	From (m)	To (m)	Apparent Width (m)	Gold (Au g/t)
FCDD-1	20.05	32.5	12.45	3.14
and	38.47	51.57	13.10	1.27
FCDD-2	20.49	30.34	9.85	5.37
and	37.22	43.30	6.08	0.96
and	48.40	57.36	8.96	2.04
FCDD-3	NSR	NSR	NSR	NSR
FCDD-8	15.90	37.25	21.35	2.41
and	75.80	82.10	6.30	4.27
FCDD-4	13.30	16.30	3.00	4.41
FCDD-5	14.44	21.85	7.41	2.35
FCDD-6	3.00	4.95	1.95	0.63
and	28.50	31.35	2.85	3.55
FCDD-7	11.80	13.30	1.50	3.76
and	33.50	37.00	3.50	0.93

Intersections are based on a 0.5 g/t cut-off grade with no top cut applied.

Trenching Programme

Seven trenches located along strike of the Fula structure have been sampled. Six of the eight trenches revealed gold bearing intervals delineating a 350m long structure bracketed by a best intersection in trench TR7 of 2.10g/t Au over 22m (including 6.72g/t Au over 4m ), and the high grade intersections and grab samples observed in Fula Camp quarry at the other end. The trench results are considered encouraging as they indicate the presence of a wide zone of gold mineralisation over a significant strike length.

Soil Survey

A detailed soil survey of 1,130 samples has been undertaken on a 50m centred grid around the main zone at Fula Camp. The programme yielded 64 anomalous samples containing >100ppb Au, including 20 samples containing >400ppb Au. The survey indicates a possible continuous strike extension of the Fula Camp main zone of 450m, on which the Company has undertaken trenching and drilling. Soil sampling has also discovered a new 300m long zone, 1km to the south west of the main zone, outlined by four samples containing >100ppb Au, including two containing >200ppb Au. Prospecting in this area has revealed significant rusty, banded iron formation in float. More abundant float of the same type has been observed between Fula South and Mafapie village, some 4km to the southwest, indicating the potential for a BIF hosted gold deposit in the area.

Fula Camp Soil Survey Overview

• 'Soso Pit' historically supporting 100 miners
• 500m long Au geochemical signature, open along strike
• Initial pilot trench returned 1.89g/t Au over 5m

Soso Camp is situated 4km northeast of Fula Camp and 3km southwest of Camp Israel. It has a long history of artisanal alluvial gold mining.

Exploration results

African Aura has completed a soil survey at Soso Camp which returned 23 samples above >100ppb Au and eight above >400ppb Au. A follow-up extension of the soil survey to the north east yielded 11 samples that returned assays > 60ppb Au, including four >100ppb Au.

Eight 5m long pilot trenches have been sampled across the strongest soil anomalies. The trenching revealed gold mineralisation associated with sheared granitoids in close contact with intensely sheared, amphibolitised mafic volcanics, injected with a stockwork of quartz veins and veinlets. The best result was yielded by assays from sampling trench TR24 which returned 5m at 1.89g/t Au. Assays from four of the other trenches returned low level anomalous gold. The combined soil survey and trenching programmes at Soso indicates the presence of a persistent 500m gold enriched zone striking at 065 degrees, open at both ends that merits further investigation.

Soso Soil Survey

Diamond Joint Venture

Overview Historically up to 40,000 artisanal diamond miners active in area 5 diamondiferous pipes discovered less than 35km away JV with Mano River Resources Inc. African Aura is focussed on gold exploration and given the costs of kimberlite exploration it has undertaken a joint venture with regional diamond expert Mano River Resources Inc. Mano has discovered Liberia's first known diamondiferous kimberlite pipes, up to 4ha in size, 35km East of North Bea and, more recently, a new kimberlite near Camp Alpha 17km from the North Bea licence. The JV with Mano River Resources Inc, carries African Aura with a 12% interest through the bankable feasibility stage, with direct payments by Mano of $87,500 over four years and a minimum exploration expenditure of over $600,000 in the first two years as summarised below. Diamond miners click to enlarge Previous exploration work in the North Bea area yielded abundant kimberlitic indicator minerals in close proximity to artisanal diamond mining activity, suggesting the presence of diamondiferous kimberlites. The Israel area in particular has been subjected to intensive diamond mining over the past 50 years with, at one time, a reported 40,000 artisans being active. Examination of the foremost diamondiferous drainage at Camp Israel (Wearorwen Creek) shows that its watershed falls entirely within the North Bea licence bounds, indicating that the primary source of diamonds may well occur on the licence. Meanwhile, in executing the licence-wide, regional gold soil survey, African Aura personnel have recognised two previously unmapped alluvial diamond areas that will be followed up under the joint venture. Diamond potential click to enlarge Weaorwen watershed click to enlarge Joint Venture Terms Phase-1: Consolidation of previous exploration data and infill sampling in order to define anomalies for detailed follow up, within a period of 12-months. Mano has expended over $125,000 and have earned the right to proceed to Phase 2. Phase-2: A structured follow-up programme that may include detailed stream and loam sampling, airborne and/or ground geophysics and drilling of targets to define kimberlite pipes and/or dykes, within a period of 12-months, involving a minimum expenditure of $525,000. Upon completion of this phase, Mano will have earned a 46% equity interest in the diamond rights of the property. Phase-3: Subject to satisfactory results, Mano may elect to increase its interest in the diamond rights of the property to 64% through financing the completion of a bulk sampling programme, over one or more kimberlites considered to have economic potential, within a further period of 12-months. Phase-4: Mano can increase its interest in the diamond rights of the property to 78% through sole funding a feasibility study over one or more kimberlites considered to have economic potential, within a further period of 12-months. Upon completion of the feasibility study, AAR may grant Mano the option to sole fund mine construction, which will result in Mano's interest in the diamond rights of the property rising to 90%. The Government of Liberia will have a 10% Free Carried Interest in the mining venture, as stipulated by the Mining Law, and AAR will retain a 2.0% gross production royalty on project diamond sales. Joint Venture Progress Phase-1: Completed Consolidation of previous exploration data and heavy mineral concentrate stream sediment sampling led to the definition of an area for detailed loam sampling in the vicinity of Camp Israel. The detailed sampling has revealed a potential drill target and, having achieved minimum expenditure of $125,000 for this phase of work, Mano have earned the right to proceed to Phase 2. Phase 1 Results indicate targets at Camp Israel click to enlarge Phase-2: Underway A structured follow-up programme including drilling of targets to define kimberlite pipes or dykes is now planned, along with further detailed stream and loam sampling, and ground geophysics. This will involve a minimum expenditure of $525,000 within the next 12-months. Upon completion of this phase, Mano will have earned a 46% equity interest in the diamond rights of the property, and the right to proceed to Phase 3.